Last C$0.23 CAD
Change Today 0.00 / 0.00%
Volume 244.6K
DEN On Other Exchanges
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As of 4:00 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

dundee energy ltd (DEN) Snapshot

Open
C$0.23
Previous Close
C$0.23
Day High
C$0.23
Day Low
C$0.19
52 Week High
07/29/13 - C$0.55
52 Week Low
06/27/14 - C$0.18
Market Cap
43.3M
Average Volume 10 Days
28.7K
EPS TTM
C$0.01
Shares Outstanding
188.2M
EX-Date
--
P/E TM
19.2x
Dividend
--
Dividend Yield
--
Current Stock Chart for DUNDEE ENERGY LTD (DEN)

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dundee energy ltd (DEN) Details

Dundee Energy Limited, together with its subsidiaries, explores, develops, produces, and markets oil and natural gas in southern Ontario, Canada. The company owns a 95% working interest in 80,000 acres of onshore oil properties; and a 85% working interest in 695,000 gross acres of offshore gas properties located in Lake Erie in southern Ontario, as well as in other assets. It also holds a 24.6% interest in the Castor offshore underground natural gas storage facility in Spain. The company was formerly known as Eurogas Corporation and changed its name to Dundee Energy Limited in June 2011. Dundee Energy Limited was incorporated in 1983 and is headquartered in Toronto, Canada.

36 Employees
Last Reported Date: 03/17/14
Founded in 1983

dundee energy ltd (DEN) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$125.0K
Chief Financial Officer
Total Annual Compensation: --
President of Dundee Oil & Gas Limited
Total Annual Compensation: --
Vice President
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

dundee energy ltd (DEN) Key Developments

Dundee Energy Limited Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter Ended June 30, 2014; Provides Capital Expenditure Guidance for the Remainder of 2014; Provides Drilling Update

Dundee Energy Limited reported unaudited consolidated earnings and production results for the second quarter ended June 30, 2014. Net loss attributable to owners of the parent during the three months ended June 30, 2014 were $0.1 million, compared with a net loss attributable to owners of the parent of $0.5 million incurred during the same period of the prior year. Revenues, before royalty interests, earned from oil and natural gas sales during the second quarter of 2014 were $11.1 million, a substantial increase over the $9.7 million of revenues earned during the second quarter of the prior year. The increase in revenues resulted primarily from improvements in commodity prices, offset marginally by lower production volumes on oil and liquids. Capital expenditures during the second quarter of 2014 were $1.6 million. Field level cash flows was $5,633,000 against $4,454,000 a year ago. Production volumes during the second quarter of 2014 averaged 9,085 Mcf/d of natural gas and 652 bbls/d of oil and liquids, compared with production volumes of 8,770 Mcf/d of natural gas and 692 bbls/d of oil and liquids during the second quarter of the prior year. Field netbacks during the second quarter of 2014, before realized amounts related to risk management contracts, were $2.35/Mcf against three months ended June 30, 2013 - $1.64/Mcf from natural gas and $64.19/bbl against three months ended June 30, 2013 - $53.85/bbl from oil and liquids. During the second quarter of 2014, daily production volumes increased marginally to 2,166 boe/d, compared with an average of 2,154 boe/d in the same period of 2013. Average daily natural gas production increased by approximately 4% on a period-over-period basis. The increase is a result of the increased volumes from the acquisition of an additional 20% working interest in the southern Ontario assets, which the Corporation completed during the second half of the prior year, partially offset by the natural decline rate of the Corporation's assets. Oil and liquids daily production declined by 6% during the second quarter of 2014, compared with the same period of the prior year, also reflecting natural declines in the underlying assets. To date, the corporation has drilled one vertical well and one re-entry horizontal sidetrack well. While initial results are encouraging, further testing and analyses are required to determine flow rates and evaluation of the economic viability of each project. The remaining 2014 work programs will be modified as determined by the results of this test period. The corporation anticipates spending $4.2 million on the remainder of its 2014 work program. Approximately $3.3 million will be directed towards exploration and optimization of its oil fields in southern Ontario; a further $0.7 million will be directed towards the corporation's offshore natural gas assets; and, approximately $0.2 million will be incurred to acquire or maintain mineral rights for both producing and undeveloped properties.

Dundee Energy Limited Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2014; Provides Capital Expenditure Guidance for the Year 2014

Dundee Energy Limited reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2014. For the quarter, the company reported net earnings attributable to owners of the parent were $3.2 million, compared with a net loss attributable to owners of the parent of $1.1 million incurred during the same period of the prior year. Revenues, before royalty interests, earned from oil and natural gas sales were $15.0 million, a significant increase over the $8.7 million of revenues earned during the first quarter of the prior year. The increase in revenues resulted primarily from substantial improvements in commodity prices, offset marginally by lower production volumes. Capital expenditures were $1.5 million. For the quarter, the company reported production volumes during the three months ended March 31, 2014 averaged 8,485 Mcf/d of natural gas and 562 bbls/d of oil and liquids, a decrease from 9,093 Mcf/d of natural gas and 640 bbls/d of oil and liquids during the first quarter of the prior year. Field netbacks during the three months ended March 31, 2014, before realized amounts related to risk management contracts, were $8.89/Mcf compared to $1.85/Mcf for the same three months ended March 31, 2013 from natural gas and $60.70/bbl compared to $52.10/bbl for the same three months ended March 31, 2013 from oil and liquids. The corporation anticipates capital expenditures spending $6.6 million on the remainder of its 2014 work program. Approximately $4.9 million will be directed towards exploration and optimization of its oil fields in southern Ontario; a further $0.5 million will be directed towards the corporation's offshore natural gas assets; and, approximately $1.2 million will be incurred to acquire or maintain mineral rights for both producing and undeveloped properties.

Dundee Seeks Acquisitions

Dundee Energy Limited (TSX:DEN) seeks acquisitions. Dundee anticipates spending $6.6-million on the rest of its 2014 work program. Approximately $4.9-million will be directed toward exploration and optimization of its oil fields in Southern Ontario, a further $0.5 million will be directed toward the corporation's offshore natural gas assets, and approximately $1.2-million will be incurred to acquire or maintain mineral rights for both producing and undeveloped properties.

 

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